Starting a business in real estate is always a very good idea. There’s lots of potential, particularly in something like an estate agency. Now, I know you’ve clicked this article because you’ve got an estate agent business and it’s not doing so well. As such, I thought I’d run through some points as to why your company is failing:
No Partnerships/Industry Links
One of the main reasons an estate agency fails is down to the fact they have no links within the industry. What I mean by this is your company doesn’t have any partners that can help your customers. A lot of successful estate agencies will be in partnership with surveyors or contractors or solicitors. Sometimes, they’re not in an official partnership but just have links to other companies that can assist their customers when buying/selling a house. If you’re just a plain old estate agency with no ties to other businesses, you don’t offer much to the customer. If you do have links, then you can easily recommend additional services to help them on their way. Customers appreciate this, and that’s why they’re more likely to go to a business that helps them with recommendations.
Lack Of Marketing Material
If you want to run a successful estate agents business, then you need to gather lots of good marketing material. A huge part of selling houses is getting the properties out there for people to see. To do this, you need loads of things like flyers, guides, newsletters, etc. Things that help you spread the word about your company while also providing value to others too. My pro tip is to find a company that might specialise in providing professional estate agency marketing materials for businesses like yours. Now, you have the means to create all the marketing material you need and keep everything consistent. What I mean by this is you ensure it’s all branded the same way and uses the same colour scheme. When you have your material ready to go, you need to distribute it. The good idea is to pop leaflets and newsletters through people’s letterboxes or contact local shops and ask if you can place material in their stores. Now, you’ve got great stuff and can get the word out with ease.
Unprofessional Image
Believe it or not but the way your office looks can play a huge role on whether or not someone decides to become your customer. The thing with estate agencies is that you require customers to come down to your office to discuss things. As such, if they see your office looking shabby or quite ugly on the outside, it will give them second thoughts. They’d rather go down the street to the estate agency that looks more clean and professional both inside and out. If you can’t maintain and promote a professional image, then you have no hope of being successful.
Get your business back on track by rectifying all of the issues mentioned above. Likewise, if you’re thinking of starting an estate agency, ensure you avoid all three of these problems.
